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Aerospace parts manufacturer Loar Holdings files for US IPO
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Aerospace parts manufacturer Loar Holdings files for US IPO
Apr 2, 2024 4:03 PM

April 2 (Reuters) - Loar Holdings plans to list its

shares in a U.S. initial public offering, the aerospace and

defense components manufacturer said in a filing on Tuesday, in

another sign that the two-year lull in capital markets is coming

to an end.

Loar, which specializes in the design, manufacture and sale

of niche components essential for aircraft, had acquired a slew

of companies including AGC, CAV and Desser Aerospace to tap into

newer geographies.

The New York-based company is looking to cash in on an

ebullient market that recently hosted several stellar debuts,

including Reddit ( RDDT ) and Astera Labs ( ALAB ), as potential

rate cuts and strong earnings spurred a revival in IPOs.

Palo Alto, California-based cybersecurity platform Rubrik

also filed to go public on Monday.

Founded in 2012 and led by chief executive officer Dirkson

R. Charles, Loar's net sales were $317.5 million in the year

ended Dec. 31, 2023, up 33% from a year earlier.

However, it reported a wider net loss of $4.62 million for

the same period compared with $2.47 million a year earlier.

The company, which did not disclose the size of the

offering, plans to list its common stock on the New York Stock

Exchange under the symbol "LOAR".

Jefferies, Citigroup and Morgan Stanley are among the

underwriters for the offering.

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